GCC outward workers’ remittances reach $161 billion in 2025
Gulf Cooperation Council countries collectively recorded the world’s highest value of outward workers’ remittances in 2025, totaling approximately $161 billion,...
Business
Business
OpenAI loses appeal against EU refusal to register its name as trademark
Dubai, UAE -- OpenAI, the owner of the ChatGPT chatbot, lost Wednesday its appeal against the EU's refusal to register...
- The US firm had sought to overturn a decision by the European Union Intellectual Property Office (EUIPO) that accepted protecting OpenAI's logo but not the name.
- EUIPO had ruled that the combination of the two common words in English, "open" and "AI", could describe many business activities in the area of artificial intelligence.
Business
Youth account for over 30 percent of EWEC workforce, utility says
Dubai, UAE -- Abu Dhabi's Emirates Water and Electricity Company (EWEC) said young professionals now make up more than 30...
- Utility expands graduate, AI and leadership training to build skills for UAE's energy transition.
- EWEC said its two-year graduate development programme includes departmental rotations, technical training and mentoring.
Business
Sharjah real estate transactions rise 9.3 percent to AED29.5 billion in H1
Dubai, UAE -- Sharjah's real estate transactions rose 9.3 percent year on year to about AED29.5 billion ($8.03 billion) in...
- The Sharjah Real Estate Registration Department said it completed 59,460 transactions during the six-month period, up 23.7 percent from a year earlier.
- Sales transactions totalled 16,426 across 202 areas, covering 85 million square feet, a 4.7 percent increase from the first half of 2025.
Business
DIB H1 net profit $1bn
Gross revenue increased 10% year on year
- Net financing assets grew 7 percent since the start of the year to AED281 billion after the bank extended AED43 billion in new financing during the period.
- Customer deposits rose 2 percent to AED327 billion, while total assets increased to AED423 billion.
Business
Major book publishers sue Google over use of copyrighted books to train AI models
Several major book publishers and authors have sued Google, alleging the technology company illegally copied millions of copyrighted books to...
- The proposed class-action lawsuit was filed on Tuesday in a New York court by Hachette Book Group, Cengage Learning, Elsevier, author Scott Turow and his publishing company, S.C.R.
- The lawsuit also alleged that Gemini can tailor its outputs to imitate the expressive style and creative choices of specific authors.
Business
Ajman real estate transactions reach $2.94 billion in first half
Dubai, UAE -- Real estate transactions in Ajman totalled more than 10.8 billion dirhams ($2.94 billion) in the first half...
- The department recorded 6,815 real estate transactions during the January-June period, according to the Ajman Real Estate Index.
- Trading transactions accounted for 5,435 deals worth 7.64 billion dirhams, while 969 mortgage transactions totalled more than 1.88 billion dirhams.
Business
Turkey’s exports to EU rise 4.7 percent to $55 billion in first half
Dubai, UAE -- Turkey's exports to the European Union rose 4.7 percent in the first half of 2026 to $55...
- EU-bound shipments accounted for a significant share of Turkey's total exports, which increased 3.6 percent year-on-year to $136 billion during the January-June period.
- Germany remained Turkey's largest export destination, receiving goods worth $10.1 billion, followed by Italy at $6.8 billion and Spain at $5.6 billion.
Business
SIB H1 profit up 15.3%
Total operating income rises 20.5 percent.
- Total assets rose 4.7 percent to AED94.5 billion as Islamic financing portfolio expanded and customer deposits continued growing strongly.
- Non-performing financing ratio improved to 3.6 percent while shareholders' equity increased following a AED2.6 billion capital strengthening exercise.
Business
Dubai diamond trade hits record $41.7 billion in 2025, DMCC says
Dubai, UAE -- Dubai's diamond trade rose to a record $41.7 billion in 2025, surpassing its previous high set in...
- Natural diamonds remained the dominant segment, generating $39.9 billion in trade, or 95.8 percent of the total value.
- Trade in natural polished diamonds rose nearly 25 percent year-on-year to $18.7 billion, while rough diamond volumes reached 205.2 million carats.
Business
flydubai Aleppo flights resumed
The flights were resumed after nearly 14 years.
- Scheduled to commence on 20th July 2026, Aleppo becomes flydubai’s second destination in Syria, joining the capital city, Damascus.
- The company said this reinforces the airline’s commitment to opening up previously underserved markets.
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Hidden liabilities behind major property deals
UAE property investors must look beyond certificates to uncover hidden fire-safety risks that could affect costs, valuations and returns, writes...
Opinion
93% GCC frontline employees use AI weekly, BCG report finds
The report, titled “Strategy Matters More than Tools,” draws on data from the UAE, Saudi Arabia, Kuwait and Qatar and...
Business
Shein’s debut puts its valuation, and its growth story, to test
Shein’s weak debut is a telltale sign that limited share availability cannot disguise investor concerns over valuation and growth, says...
Analysis
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Business
Abu Dhabi sees rise in licences for Emirati businesswomen
The Abu Dhabi Registration Authority issued 3,058 new economic licences to Emirati female entrepreneurs and businesswomen between January and June,...
- Abu Dhabi issued 3,058 new licences to Emirati women entrepreneurs during the first half, up from 2,873 last year.
- Mobdea licences, designed to support women turning creative pursuits into businesses, increased 10.1 percent during the first six months.
Business
Syria processes first international card payment in 15 years
Dubai, UAE -- Syria has processed its first international card payment in more than 15 years, Mastercard and QNB Group...
- QNB Syria processed the transaction at an approved local merchant using a Mastercard card issued outside Syria.
- The reconnection could enable wider international card acceptance, expanding digital payment options for consumers and businesses.
Business
Dubai airport expects stronger H2 as airline capacity and demand recover
Dubai Airports CEO Paul Griffiths said the return of airline capacity was being matched by recovering demand, particularly important for...
- Dubai Airports is upgrading biometrics, self-service facilities and passenger flows to accommodate expected demand during the busier second half.
- The winter flight schedule and Dubai’s global events calendar are expected to support stronger connectivity and international transfer traffic.